2011 California Code
Business and Professions Code
DIVISION 4. REAL ESTATE [10000 - 11506]
CHAPTER 4. Licenses and Certification Application
Section 11345.3
The director may not issue a certificate of registration to an appraisal management company unless the appraisal management company confirms in its application for registration that all of its contracts with clients include provision of each of the following as standard business practices, as and where applicable:
(a) Ensuring that independent contractor appraisers contracted by the applicant possess all required licenses and certificates from the office.
(b) Reviewing the work of all independent contractor appraisers contracted by the applicant to ensure that appraisal services are performed in accordance with the Uniform Standards of Professional Appraisal Practice.
(c) Maintaining records of each of the following for each service request:
(1) Date of receipt of the request.
(2) Name of the person from whom the request was received.
(3) Name of the client for whom the request was made, if different from the name of the person from whom the request was received.
(4) The appraiser or appraisers assigned to perform the contracted service.
(5) Date of delivery of the appraisal product to the client.
(Added by Stats. 2009, Ch. 173, Sec. 13. Effective January 1, 2010.)
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